After receiving downgrades from analysts last November, Pacific Andes Resources Development (PARD) and China Fishery Group (CFG) are now receiving word that OCBC Investment Group has decided to cease its coverage of the companies, citing a “lack of medium-term price drivers and muted earnings outlook.”
OCBC predicts PARD’s FY2013 earnings will be HK$638 million ($82.2 million / €61.5 million). Although that is up from last year’s earnings of HK$627.7, it is down 17.5 percent from the high of HK$773 million ($99.7
